As the RBI proceeds to unveil the central bank digital currency (CBDC), Governor Shaktikanta Das on Wednesday flagged cyber security and digital fraud as the main challenges in the new system.
“The main concern comes from cyber security and the potential for digital fraud. We have to be very careful about it,” Mr Das told reporters in a post-policy conversation.
Mr Das recalled that a few years back, there were concerns about counterfeit currency and similar aspects could play out with the launch of CBDCs.
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